Page 13 - NorthAmOil Week 41

NorthAmOil
NEWS IN BRIEF
NorthAmOil
denied a water quality certificate to PennEast Pipeline for its proposed $1bn natural gas pipeline from Pennsylvania to New Jersey. The decision followed a ruling by a US appeals court last month that barred PennEast from using federal law to seize properties controlled by New Jersey to build the pipeline.
PennEast had been seeking to use the federal government’s eminent domain power to gain access to 131 properties along the route in New Jersey under the US Natural Gas Act. However, New Jersey did not consent
to PennEast’s condemnation lawsuits on properties it controls.
New Jersey Governor Phil Murphy announced in a tweet on October 11 that state regulators had denied the permit. In his tweet, he included a letter from the New Jersey Department of Environmental Protection denying PennEast’s application because the company “no longer has the legal authority
to perform activities on 49 properties along the proposed pipeline” route after the court ruling. A PennEast spokeswoman, Patricia Kornick, said the company was confident
“the legal actions will be resolved favourably and the long-standing legal precedent under which FERC has operated ... will be upheld.”
SERVICES
Audubon Companies awarded contract for Murphy Exploration’s King’s Quay FPS project
Audubon Companies, a global provider of EPCM services, announced today that it has secured a new contract to provide detailed engineering and design services, as well as procurement and construction support for Murphy Exploration & Production Company – USA King’s Quay FPS project which will
be installed in the Gulf of Mexico. Previously, Audubon Companies provided design, procurement, and construction management services for the Delta House FPS, currently
owned and operated by Murphy. Audubon Companies utilised a “one-size-fits-most” standard design approach to accommodate a wide range of hydrocarbons and reservoir characteristics.
AUDUBON COMPANIES, October 10, 2019
MOVES
Goodnight Midstream
announces Ben Daitch as
chief financial officer
Goodnight Midstream, a leading oilfield water midstream company, announces the addition of Ben Daitch as its chief financial officer.
Mr. Daitch is an accomplished financial professional with over 25 years of experience and an extensive background in the energy industry.
“Goodnight Midstream is leading the greenfield development of midstream oilfield wastewater management. It is an honor to join the team and I look forward to further strengthening the Company’s financial performance,” said Mr. Daitch.
Most recently, Mr. Daitch served as chief financial officer of Paradigm Midstream, where he was responsible for all aspects of finance, treasury, accounting and human resources. Prior to that, he was Chief Financial Officer at Jamex, Lonestar Resources and CDX Gas. Previously, he was an investment banker at UBS, Bank of America and Deutsche Bank. Mr. Daitch holds an MBA from NYU’s Stern School of Business and a BS Management from Binghamton University.
“We are pleased to welcome Ben to our team,” said Patrick Walker, CEO of Goodnight Midstream. “He is a veteran of the energy industry with a proven record of building
and leading high performing midstream teams. Along with Tailwater Capital’s increased capital commitment, Goodnight has the balance sheet and team necessary
to expand our business in partnership with our producers, and sustainably support our continued double-digit growth.”
GOODNIGHT MIDSTREAM, October 15, 2019
Chesapeake Utilities to exit the natural gas marketing business; Selling Peninsula Energy Services Company assets
Chesapeake Utilities today announced that it is exiting the natural gas marketing business through the sale of the majority of the assets of Peninsula Energy Services Company (PESCO), the company’s natural gas marketing subsidiary. To date, the company has executed three separate transactions to sell PESCO’s assets and contracts: PESCO’s Florida retail operations will be sold to Gas South; PESCO’s other non-Florida retail operations and contracts were sold to United Energy Trading; PESCO’s Mid-Atlantic wholesale contracts and Chesapeake Utilities’ Delaware division, Maryland division and Sandpiper Energy Asset Management agreements were sold to NJR Energy Services Company (NJRES).
The company expects to recognise a gain from the sale of the assets in 2019 upon the closing of the transactions. More information will be provided in the company’s third quarter earnings press release and Form 10-Q report as well as subsequent filings.
“After performing a strategic review of the PESCO business unit, we determined that our efforts should be focused on the strategies that support our core energy delivery businesses. The level of investment in infrastructure required to achieve the scale needed for
future growth meant that PESCO would not achieve the target returns we expect,” noted Jeff Householder, president and CEO of Chesapeake Utilities. “As a result, we made the decision to exit this business, and have done so in a way that reduces future volatility in our earnings, recovers our investment
and improves our earnings outlook going forward.”
“Commitment to quality service, access to supply, and service offerings were the driving factors for the selected counterparties. We are working closely with Gas South, UET, and NJRES to ensure each transaction is executed in an efficient manner with minimal impact to the respective customers,” added Bill Hancock, assistant vice president of PESCO. “We have one remaining small book of business, our Producer Services portfolio, which we are targeting to sell by the end of the year.” CHESAPEAKE UTILITIES, October 09, 2019
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